Previously, on As Sheldon Turns, we discussed several different types of sponsored projects and a few of their general characteristics. Today, we’ll begin a more in-depth examination of the award types and what differentiates each from the others.
Award Type: Grant
Basic Purpose: To assist the organization in fulfilling a goal or public purpose. Also to support further knowledge in a particular subject area or field of research.
Sponsor Involvement: Very little once awarded, other than ensuring adhering to reporting requirements.
How Solicited: Initiated by Investigators via application kit or other avenues.
Benefits: Recipients are able to further their own purposes/programs. Sponsors benefit by having their funds support further research in a field, which is for the public good.
Project Direction: Since grants are considered “assistance,” the PI is generally able to operate freely within the solicitation.
Selection Process: Based on peer review recommendation.
Award Instrument: Description of the statement of work with general outline of terms and conditions.
Period of Performance: Defined by the PI, with input from the sponsor, and may also be impacted by availability of funds.
Cost Principles: A-21 (Higher Education); A-122 (Profit Organizations)
Administrative Requirements: A-110 (Agency Implementation)
Rebudgeting Ability: Generally available within most budget categories. However, sponsor can restrict within certain categories, such as international travel.
Technical Reporting Requirements: Usually annual reports and/or summary technical reports.
Renewals: Depends on the interest of the sponsor and possibility/scope of future research.
Final Deliverable(s): Generally only the final technical, financial and intellectual property reports.
Fulfillment of Award: PI utilized best efforts to complete the research.